Global flavonoids market is expected to grow over the forecast period owing to its increasing demand in food & beverage industry. The product has been gaining popularity owing to its superior properties such as enhancing shelf life of various products.
Flavonoids are available in numerous forms including anthocyanins, anthoxanthins, chalcones, isoflavonens, flavones and flavanones. Among these, anthocyanins are expected to witness significant gains and will dominate the market in terms of revenue. In addition, increased usage of anthocyanins as a coloring agent from food & beverage industry is expected to be the key driving force over the projected period.
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They are used in a host of applications including nutraceutical, animal feed, pharmaceutical and food & beverages. Nutraceuticals were one of the largest applications and are anticipated to witness significant gains over the forecast period.
Flavonoids are primarily extracted from soybeans, tomatoes, peppers, berries, citrus fruits, broccoli and carrots. It is a group of compound which contains antioxidant properties, preventing various diseases and helps in extending the shelf life of food products by defending it against deterioration cause by oxidation.
Increasing awareness regarding the antioxidant property of flavonoids is expected to drive its demand, particularly in aging population. Growing demand for cancer fighting products owing to increasing occurrences of the disease is expected to propel demand over the forecast period. In addition, the product inhibits various hormones including estrogen and prevents hormone based malignancies including prostate cancer and breast cancer.
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Immense use of flavonoids owning to rising consumer awareness regarding the use of healthy products coupled with increasing use of stress relief and cholesterol lowering products is expected to drive demand over the forecast period. Furthermore, its increased use as a coloring agent along with its superior properties to enhance the shelf life of food & beverages is expected to boost the demand globally over the projected period. Moreover, growing demand for frozen foods and processed foods with high nutritional content is expected to augment demand.
Numerous food & beverage, nutraceutical and in pharmaceuticals manufacturers are increasingly using the phytonutrient on account of its numerous advantages. In addition, increasing ease of use, cheaper cost and diversified applications is expected to be a key driving factor for the market over the forecast period. The product is expected to grow significantly in almost all parts of the world over the projected period and the current market player is North America.
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